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SCMP Reporter

HONG KONG buyers are rushing to buy homes at Kensington Green, a luxury residential complex being built in Central London.

  David Coreth, manager of the Hong Kong office of British estate agents Hamptons, which is marketing the project, expects 12 units to be reserved by buyers from the territory in pre-sales of 25 flats before phase two of the development is officially launched today.

  An exhibition of the remaining flats and houses to be sold in phase two will be held on October 11 at the Mandarin Hotel.

    Located in the heart of Kensington, the development draws on traditional styles of architecture in its design.

  Hong Kong buyers bought more than a quarter of the units in phase one of the development constructed by builder Taylor Woodrow.

  A total of 133 units, including 127 flats and six houses, are offered in phase two by Taylor Woodrow. These will be ready for occupation by the autumn of 1995.

   Prices range from GBP230,000 (about HK$2.8 million) for a one-bedroom flat to GBP470,000 for a three-bedroom apartment. Leases on the properties run for 999 years.

 Mr Coreth said Hong Kong buyers included both investors and home owners looking for a base in London, or a new permanent home.

  Despite marketing the development worldwide, Hamptons has found Hong Kong buyers have taken the most interest in the property.

  Out of the 120 units marketed in phase one, 35 were sold in Hong Kong.

  Mr Coreth said Kensington was a popular location for Hong Kong buyers. It was a cosmopolitan area which also possessed 'a quaintly British feel', which was a balance that appealed to home buyers from the territory.

  Building will start on a 1.6-hectare site this autumn for phase two of the development, which will include leisure facilities, landscaped gardens, 24-hour security and secure underground car parking within 'a private and secluded living environment', Mr Coreth said.



Big demand for flats